Vietnam Consortium Provides $52 Mln For Float Glass Factory

Date: 16 August 2007

A consortium of Vietnamese commercial banks and a finance company provided Tuesday a loan of VND845 billion (US$52 million) for building a glass factory in the central Chu Lai Economic Zone (EZ).

The consortium consists of the state-owned Bank for Agriculture and Rural Development of Vietnam (Agribank), the Saigon-Hanoi Commercial Joint Stock Bank (SHB), Dai Duong (Ocean) Commercial Joint Stock Bank, and the Vietnam Coal and Mineral Industries Group (Vinacomin)-owned Finance Company.

The beneficiary, the Vinacomin and Industrial Development Company is building the 1,000 ha Chu Lai glass factory at a cost of $81 million.

Work began on the project in February and is expected to be finished in 15 months.

Once operational the country’s largest glass factory, which boasts a state-of-the-art float glass production line with a daily melting capacity of 700 tons, can churn out over 40 million sq.m of glass products annually.

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Thanhniennews.com

2007-08-16T13:00:00

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